I only learned pretty late and it was tough to break out of it that the dream e're all sold doesn't benefit me but benefits others like bankers, real estate agents and governments I just open up more of my value to be stolen from me and that's what creates the 1% of the rich. When you don't ask questions and you follow the herd you will get what they get 

LOL with those requirements, there are a lot of people who are too far gone and can't be helped. I think its all about what you value if you value marriage or a car then, by all means, go for it but don't complain about the downside of your decisions then, that was your decision so take personal responsibility 

I do try to rid myself of the BS, live as minimal as possible, save and try to read as much and lean as much as I can and to be prepared for anything too

Theres already 30 years now and in Japan they already have 100 year mortages LOL that's where we're going the madness isn't going to stop. I can't even believe people are paying 7 years on a car now when it loses half its value within the first 5 lol makes no sense but okay to each their own

You have a firm grasp of the issue and very well said, I agree with you completely. I can't understand it myself people are using borrowed money to bid up prices for cars and homes and it's so silly if they didn't it's not as if those cars and homes disappear, all they do is get cheaper. Less credit means less new money, meaning old money/savings increase in value due to deflation

Unfortunately, we cannot have deflation or the debts we do have will collapse in on us, it's so out of hand yet we still see people borrowing and borrowing it blows my mind.

All I can do is buy my Bitcoin and hope I don't hurt too bad by what is going to happen when we find out we can't pay for all this debt

Wow, that is one horror story I mean working 2 jobs and renting out your place to cover rent and debt, when will you ever own anything? How will you start a life? 

I know New York is an expensive city to live in but people are really pushing it to the brink no wonder people are so angry and triggered online they all so stressed out if that's the kinda situation you're living in, I can imagine shes not the only one living like that and she should be more on the "well off" side having a job and a talent to freelance, wow, scary

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Yes I understand its the same here, its all about the nominal value with rent you don't have to pay massive deposit, deal with interest rates and all those fees that come with owning a home. 

To be honest, very few people own their home, either, stop paying for a moment and see what the bank does to you and even if you have paid your home off, stop paying your property tax and see what happens to your home.

We own nothing, we're all just renting from someone.

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It sure is more expensive to be poor. 

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I feel you on a spiritual level with this comment, I was super fortunate to go to a subsidised techni-con so it wasn't pricy to get my degree and we could afford it cash. 

My car I build up myself, it was fun, running around for spare parts, eventually sold it and got a more "reliable" car lol, but no debt thankfully.

Yes, I am spoilt having had my 4 years in college too, but the costs these days are mind-blowing. I agree rather do it slow pay for what you can and don't try to finance everything you do especially something that's NOT guaranteed like a job. 

There are electrical engineers working as Baristas these days so to me it's still a bit of a gamble.  

My short term goal is lean-fire and long term FAT-fire and I'm not going to get there with financing stuff!

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I like that concept better like only pay for what you use, and on-demand, but there are some things people would like to own, like their purchasing power and their home and small items 

I mean people are buying clothing, cars, phones on contracts and credit, that's effectively renting something you could own, it doesn't seem right to me, especially something that's losing value while you paying the same monthly instalment.

I think a combination of what you guys have in Sweden would be great, it obviously wouldn't work here in South Africa, just because of how our cities and culture work here, but for developed nations it sounds like a good option 

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I am with you, debt is fantastic if you are buying an asset that generates cash flow like a rental property or a business but horrible for anything else. Its a good financial tool but we have misused it on petty things

Debt in my mind should only be used on creating NEW goods and services and nothing else. Everything else should be financed with existing cash. 

I use small amounts of debt via my credit card, I'll buy Bitcoin with it and pay back my debt with cheaper fiat that I earn, but I never spend more than I can pay back within 55 days.

It's tough in countries with poor currencies and makes it that much harder to get out because wages are flat, if wages were rising having a weak currency would be great for debt. I see many people here way overleveraged thinking they will always have income to support the debt and 2020 has proved that is not the case

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Indeed, and there are actually very few things you can "own" these days. Apart from physical cash to a point (until they declare it non-legal tender) and precious metals (until they moan about that) I guess is ownership. 

Bitcoin seems to be the only ownership they can't touch 
yet, if its in a private key wallet. 

- You don't own your home its either mortgaged or try not paying property tax and see what happens. 
- You don't own your car, even when its paid off try not paying licencing 
- You don't own stocks and bonds, I mean who actually holds the contracts to those things you just have a piece of paper saying you declare ownershipip

Those are basically the two big-ticket items people buy, the other stuff I mean all depreciates to zero a few years after buying it so what's the point of owning something of zero value.

Ownership has been eroded, we live in a rent to live world

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Lol same here, I don't think I'll ever be able to afford a home at this point, will just have to wait and see if things ever get to a point where what you can earn can net you a home. Be lucky that your country doesn't flood you with too much credit, it will be better for you in the long run, others might look better than you now but they are on borrowed time